System and method for locating a document containing a selected number and displaying the number as it appears in the document

ABSTRACT

A system and method for locating a number in a source document by presenting and manipulating data on private and public companies. A central database of combined public and private information comprising a plurality of financial information is established. A target entity is entered within the central database by a user, and financial information of the target entity from the central database is displayed. Once a number within the display of financial information is clicked on, the system and method determines which document is the source document containing the numbers, searches through the source document for the number, identifies the location of the number in the source document and highlights and displays the number as it appears in the source document to the user.

BACKGROUND OF THE INVENTION

The display of financial information by data providers to local users through web-based applications is well-known and commonplace in the finance industries. In addition to the display of financial numbers on a graphical user interface, existing technology provides users with the opportunity of viewing how a specific number is derived. This is accomplished by allowing the user to click on or select any number using a pointing device such as a mouse. Once a chosen number having a hyperlink is clicked on, a window appears that shows the component numbers used to calculate the chosen number, and the method used, such as the addition, subtraction, multiplication, etc., of the component numbers.

A highly desired system and method shows a user where the chosen number that was clicked on appears within a financial document. However, current methods accomplish this through the tedious and time-consuming method of manual “tagging.” This process consists of endless hours of searching through thousands of documents to locate the number within a source document and then tagging the actual source of the numbers. When a search is conducted, only the tagged numbers that conform to the search request are identified.

The system and method for locating a number in a document avoids the manual “tagging” of source documents. The invention achieves the goal of finding a specific number in a source document quickly and efficiently, unlike any other method previously employed. It utilizes a central database of information and presents the desired financial numbers to the user within minutes. Once a specific number is clicked on, the invention rapidly searches for the source document containing the number and presents the source document containing the specific number to the user. It achieves this through the use of a computer code and basic algorithms.

The present invention tracks the thinking process of investment bankers regarding financial numbers, and allows a banker to review the reliability of financial information by tracing a number back to its original source. The process of confirming financials that may have taken a banker hours and hours to complete may now be achieved in just minutes.

The invention is currently offered in an ASP model (via the Internet) and is bundled with the central database provider's platform. It could easily be provided as a “behind the firewall” software solution, as a stand-alone product or it may be bundled with other services.

SUMMARY

It is a goal of the present invention to provide a quick and easy system and method for individuals such as investment bankers to locate numbers in financial documents. The invention accomplishes this by presenting and manipulating data on private and public companies. This data includes financial information on public companies. The first step involves identifying the document that will contain a specific chosen number. Once the source document is identified, the invention searches through the source document to locate and identify the specific number. Since a number is not always represented in a single form, the invention takes into consideration all of the different ways a number may be represented in a document.

When a user views a particular public company's financial information within a platform, the user can click on any of the financial numbers (such as dollar values, ratios and multiples) that are initially presented, or target numbers or component numbers presented after the initially presented number is clicked-on. The invention searches for the document which could contain the number, target number or component number that the user has clicked on. Once it finds that document, it locates the number, target number or component number and presents it to the user as it appears in the document.

BRIEF DESCRIPTION OF THE DRAWINGS

FIG. 1 illustrates a window showing a financial profile for a target entity;

FIG. 2 illustrates a window showing component numbers used to calculate a number listed in the profile shown in the window illustrated in FIG. 1;

FIG. 3 illustrates a window showing first component numbers used to calculate a number listed in the profile shown in the window illustrated in FIG. 1;

FIG. 4 illustrates a window showing second component numbers used to calculate a first component number listed in the window illustrated in FIG. 3; and

FIG. 5 illustrates a window showing third component numbers used to calculate a second component number listed in the window illustrated in FIG. 4.

DETAILED DESCRIPTION OF THE PREFERRED EMBODIMENTS

According to one preferred embodiment of the present invention, there is provided a method for locating a number in a document. The present invention searches through a database comprising a collection of financial information and documents until it locates the document that contains a specified number, and it then presents the highlighted number as it appears in the document to the user.

A central database of a plurality of data on public and private companies is initially established. Such data includes, without limitation, a robust collection of financial information on public companies. This financial information includes financial categories that are well known in the art, such as a company's Net Debt, Revenue, EBIDTA (earnings before interest, depreciation, taxes and interest), EBIT (earnings before interest and taxes), EPS (earnings per share) and Book Value. (See FIG. 1) This central database is constantly maintained by a host entity. This involves maintaining the central database on computer servers at a secure hosting facility, such as Qwest or Globix.

In a preferred embodiment of the invention, a user initially enters a target entity within the central database through the user interface, and is provided with that target entity's company profile. When a user wishes to obtain a quick comparative financial analysis of the target entity and all of its competitors, the user clicks on a “Quick Comps” hyperlink. The user may then click on any of the presented financial numbers containing a hyperlink for the target entity or any of its competing companies, such as a competing company's Revenue.

When a number is clicked on by the user, the invention searches through the database of financial documents to locate the document which contains that clicked-on number. This document is referred to as the “source document.” The source document may be a press release, an SEC filing including, but not limited to, a 10K or 10Q filing, or any other relevant filing. The system and method accomplishes this by searching for a source document that has a date that falls within a certain predetermined date range. The range is determined by the host entity or the computer programmer. This date range is a time period surrounding the target's or competing company's filing date for the source document containing the clicked-on number. This predetermined date range may extend before and after an entity's filing date, only before an entity's filing date, or only after an entity's filing date.

In another preferred embodiment, the invention searches for filings that have a date that falls within thirty days of the end of the three month quarter for which the source document containing the particular number is filed by the target entity or competing company. The invention then selects the most recent of these filings as the source document.

Once the source document containing the clicked-on number is identified, the invention searches through the source document to pinpoint its exact location through the use of a simple algorithm. The algorithm performs a “find” functionality which is well know in the art. The invention first attempts to locate the number in its exact form, or the identical form presented to the user. For example, if the clicked on number is 5 million dollars, it searches for it as “$5,000,000.” The difficulty in pinpointing the exact number stems from the fact that a number may be presented in various ways. As such, the number $5,000,000 can be represented as 5,000 (number in thousands), as 5.0 (number in millions) or 5.000.000 (number in European format). If the invention cannot locate $5,000,000, it creates alternative number representations for that number such as 5,000,000, 5,000, 5.0 and 5.000.000. Thus, if it does not locate $5,000,000, it searches for 5,000,000. If it does not locate 5,000,000, it searches for 5,000. It continues to search through all the different alternative representations until a match is found. The number is then highlighted and displayed to the user, as it appears in the source document.

When the invention fails to locate a source document containing the clicked-on number or clicked-on target number (a target number is any other number that presents itself to the user after the initial number is clicked), it creates a series of alternative number representations for that number or target number. These alternative number representations include but are not limited to numerical digits representing billions, millions, thousands, hundreds, numbers with or without a “$” sign, numbers with or without commas between the digits, numbers with or without periods between the digits, and numbers with or without spaces before and/or after the number. In a preferred embodiment, these representations are created by the host entity or by computer programmers. A specific ranking is assigned to these alternative number representations, and the invention follows this chosen hierarchy. For example, the invention might be programmed to search for a number in the thousands first, in the millions second, with commas third, without commas fourth, with a “$” sign fifth and without a “$” sign sixth. Any amount of alternative number representations may be created, in any order.

In another preferred embodiment, when a number is clicked on by a user, a window appears showing how the number was calculated. This is in contrast to the commencement of an immediate search for the clicked-on number when no window shows itself or pops up. The window displays the “component numbers” used to calculate the clicked-on number. For example, if the clicked-on number was C, then the window would show A+B=C. A and B would be the component numbers that were added to get C. The calculations include, but are not limited to addition, subtraction and multiplication of component numbers. Moreover, component numbers are not limited in amount. There may be two, three, four, etc. component numbers.

By way of example, if the user clicks on the “Net Debt” number X for a company, a window appears, as shown in FIG. 2, which shows that the Net Debt was calculated by subtracting the company's “Cash and Equivalents” (number Y) from its “Debt” (number Z). Thus, the window would show that the first component numbers Y and Z were subtracted to get the number X.

In another preferred embodiment, a window appears more than once. If the number D (as shown in FIG. 1) was clicked on by the user, a window showing E+F=D would appear (See FIG. 3). If the user clicked on one of the first component numbers, E or F, a second window could appear showing how E or F, respectively, were calculated. For example, the window would show G+H=E if the number E was clicked on, G and H would be the second component numbers that were added to get E (See FIG. 4). If the user clicked on one of the second component numbers, G or H, a third window could appear showing how G or H, respectively, were calculated. For example, the window would show I−J=G if the number G were clicked on (See FIG. 5).

In a preferred embodiment, all of the component numbers (first, second, third, etc.), including the calculations involving the component numbers could be displayed in a single window. A single window would thus show, in a flow-chart or tree-like fashion, a path beginning with the first number clicked on by the user up to the final component number.

The invention continues to provide the user with windows displaying component numbers until it reaches a point where a final component number stands alone. The first step of this system and method is determining which document is the one that contains that final component number (which maybe the first, second, third, etc. component number). It does this by searching for the source documents (an SEC 10K or 10Q filing, press release, or any other document that may contain the component number entered in or accessible in the database) that have dates that fall within a predetermined date range surrounding a company's filing date for the source document containing the component number. If more than one source document is found, the invention uses a simple algorithm that is well known in the art to select the document with the most recent date (or the most recent filing date).

The second step involves locating the exact number in the source document. If the source document containing the exact number as it is presented to the user is found, it is highlighted and presented to the user as it appears in the source document. If the exact number is not found, the invention creates a series of alternative number representations. It then proceeds to go through the series of alternative number representations in a predetermined hierarchical fashion until a representation is found. It then highlights the number representation and presents it to the user as it appears in the source document.

In another preferred embodiment of the invention, all of the alternative number representations are highlighted and presented to the user as they appear in their respective documents. The user may then view all of the highlighted numbers and determine which are the most useful and/or appropriate. 

1. A method for locating in a source document a first component number of one or more components used to calculate a number comprising the steps of: a. establishing a central database of financial information; b. enabling a user to enter a target entity within said central database; c. displaying financial information of said target entity from said central database; d. enabling the user to select a number within said financial information; e. displaying a window containing one or more first component numbers used to calculate said selected number; f. enabling the user to select a one of said first component numbers; g. determining which document is the source document containing said selected first component number; h. searching through said source document for said selected first component number; i. identifying the location of said selected first component number in said source document; and j. displaying said selected first component number as it appears in said source document to said user.
 2. A method for locating in a source document a second component number of one or more components used to calculate a number comprising the steps of: a. establishing a central database of financial information; b. enabling a user to enter a target entity within said central database; c. displaying financial information of said target entity from said central database; d. enabling the user to select a number within said financial information; e. displaying a window containing one or more first component numbers used to calculate said selected number; f. enabling the user to select a one of said first component numbers; g. displaying a window containing one or more second component numbers used to calculate said selected first component number; h. enabling the user to select a one of said second component numbers; i. determining which document is the source document containing said selected second component number; j. searching through said document for said selected second component number; k. identifying the location of said selected second component number in said source document; and l. displaying said second component number as it appears in said source document to said user.
 3. A method for locating in a source document a third component number of one or more components used to calculate a number comprising the steps of: a. establishing a central database of financial information; b. enabling a user to enter a target entity within said central database; c. displaying financial information of said target entity from said central database; d. enabling the user to select a number within said financial information; e. displaying a window containing one or more first component numbers used to calculate said selected number; f. enabling the user to select a one of said first component numbers; g. displaying a window containing one or more second component numbers used to calculate said selected first component number; h. enabling the user to select a one of said second component numbers; i. displaying a window containing one or more third component numbers used to calculate said selected second component number; j. enabling the user to select a one of said third component numbers; k. determining which document is the source document containing said selected third component number; l. searching through said document for said selected third component number; m. identifying the location of said selected third component number in said source document; and n. displaying said selected third component number as it appears in said source document to said user.
 4. A method for locating a number in a source document comprising the steps of: a. establishing a central database of financial information; b. enabling a user to enter a target entity within said central database by a user; c. displaying financial information of said target entity from said central database; d. enabling the user to select a number within said financial information; e. searching through the central database for a source document containing said selected number; f. if no source document is found containing said selected number, then creating a series of alternative number representations for said selected number; g. searching through the central database for a source document containing a one of said alternative number representations; h. stopping said search when a source document containing a one of said alternative number representations is located; i. locating within said central database said source document containing said number representation; j. searching through said located source document for said alternative number representation; k. identifying the location of said number representation in said source document; and l. displaying said number representation as it appears in said source document to said user.
 5. A method for locating in a source document a first component number of one or more components used to calculate a number comprising the steps of: a. establishing a central database of financial information; b. enabling a user to enter a target entity within said central database; c. displaying financial information of said target entity from said central database; d. enabling the user to select a number within said financial information; e. displaying a window containing component numbers used to calculate said selected number; f. enabling the user to select a first component number; g. searching through the central database for a source document containing said first component number; h. if no source document is found containing said first component number, then creating a series of alternative number representations for said first component number; i. searching through the central database for said source document with said series of alternative number representations; j. stopping said search when the source document containing a number representation from said series of alternative number representations is located; and k. displaying to said user said number representation as it appears in said source document.
 6. A method for locating in a source document a second component number of one or more components used to calculate a number comprising the steps of: a. establishing a central database of financial information; b. enabling a user to enter a target entity within said central database; c. displaying financial information of said target entity from said central database; d. enabling the user to select a number within said financial information; e. displaying a window containing first component numbers used to calculate said number; f. enabling the user to select said first component number; g. displaying a window containing second component numbers used to calculate said first component number; h. enabling the user to select said second component number; i. searching through the central database for a source document containing said second component number; j. if no source document is found containing said second component number, then creating a series of alternative number representations for said second component number; k. searching through the central database for said source document with said series of alternative number representations; l. stopping said search when a source document containing a number representation from said series of alternative number representations is located; and m. displaying to said user said number representation as it appears in said source document.
 7. A method for locating in a source document a third component number of one or more components used to calculate a number comprising the steps of: a. establishing a central database of financial information; b. enabling a user to enter a target entity within said central database; c. displaying financial information of said target entity from said central database; d. enabling the user to select a number within said financial information; e. displaying a window containing first component numbers used to calculate said number; f. enabling the user to select a one of said first component numbers; g. displaying a window containing second component numbers used to calculate said first component number; h. enabling the user to select a one of said second component numbers; i. displaying a window containing third component numbers used to calculate said second component number; j. enabling the user to select a one of said third component numbers; k. searching through the central database for a source document containing said third component number; l. if no source document is found containing said third component number, then creating a series of alternative number representations for said third component number; m. searching through the central database for said source document with said series of alternative number representations; n. stopping said search when a source document containing a number representation from said series of alternative number representations is located; and o. displaying to said user said number representation as it appears in said source document.
 8. A method for locating any target number in a document comprising the steps of: a. establishing a central database of combined public and private information comprising a plurality of financial information; b. entering a target entity within said central database by a user; c. displaying financial information of said target entity from said central database; d. clicking on a number within said financial information by said user; e. displaying windows containing at least one target number; f. clicking on one of said target numbers by said user; g. searching through documents for said source document containing said target number; h. if no source document is found containing said target number, then creating a series of alternative number representations for said target number; i. searching through documents for said source document with said series of alternative number representations; j. stopping said search when a source document containing a number representation from said series of alternative number representations is located; k. locating said source document within said central database containing said number representation; l. searching through said source document for said number representation; m. identifying the location of said number representation in said source document; and n. highlighting and displaying said number representation as it appears in said source document to said user.
 9. A method according to any of claims 1–7 and 8 where determining which document is the source document containing said number, target number or component number further comprises the step of searching for said source document that has a date that is closest to the end of the 3-month quarter in which said number is reported by said target entity or company.
 10. A method according to any of claims 1–7 and 8 where determining which document is the source document containing said number, target number or component number further comprises the step of searching for said source document that has a date that falls within a predetermined specified date range.
 11. A method according to any of claims 1–7 and 8 where determining which document is the source document containing said number, target number or component number further comprises the step of searching for said source document that has a date that falls within at least one of the following date ranges: a. a time period extending before and after said target entity's filing date for said source document containing said number, b. a time period extending before said target entity's filing date for said source document containing said number; and c. a time period extending after said target entity's filing date for said source document containing said number.
 12. A method according to any of claims 1–7 and 8 where determining which document is the source document containing said number, target number or component number further comprises the step of searching for said source document that has a date that falls within at least one of the following date ranges: a. a time period extending before and after a company's filing date for said source document containing said number; b. a time period extending before a company's filing date for said source document containing said number; and c. a time period extending after a company's filing date for said source document containing said number.
 13. A method according to any of claims 1–7 and 8 where determining which document is the source document containing said number, target number or component number further comprises the steps of: a. searching for the SEC filings or other relevant filing databases that have a date that falls within 30 days of the end of the 3 month quarter for which said source document containing said number is filed by said target entity or company; and b. selecting the most recent of said filings as said source document.
 14. A method according to any of claims 1–7 and 8 where determining which document is the source document containing said number, target number or component number further comprises the steps of: a. searching for the SEC filings or other relevant filing databases that have a date that falls within a date range surrounding the target entity's or company's filing date for said source document containing said number; and b. selecting the most recent of said filings as said source document.
 15. A method according to any of claims 1–7 and 8 where determining which document is the source document containing said number, target number or component number further comprises the steps of: a. searching for the SEC filings or other relevant filing databases relating to said number, target number or component number; b. selecting the most recent of said filings as said source document.
 16. A method according to any of claims 1–7 and 8 further comprising the step of maintaining said database.
 17. A method according to any of claims 1–7 and 8 wherein said financial information comprises financial numbers including dollar values, ratios and multiples.
 18. A method according to any of claims 1–7 and 8 wherein said financial information comprises financial numbers including Net Debt, Revenue, EBIDTA, EBIT, EPS and Book Value.
 19. A method according to claims 4, 5, 6, 7, or 8: a. where said series of alternative number representations comprise numerical digits representing billions and/or millions and/or thousands and/or hundreds of dollars (units of money); b. where said series may use or exclude a “$” symbol (unit of money symbol); c. where said series may use or exclude commas or periods between digits; and d. where said series may use or exclude a space before and/or after said number.
 20. A method according to claims 4, 5, 6, 7, or 8: a. where said series of alternative number representations comprise numerical digits representing units of money; b. where said series may use or exclude a unit of money symbol; c. where said series may use or exclude commas or periods between digits; and d. where said series may use or exclude a space before and/or after said number.
 21. A method according to claims 4, 5, 6, 7, or 8 where said series of alternative number representations are arranged in a predetermined hierarchical fashion. 